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New Invesco ETF launches on NEO


Invesco Canada Ltd (Invesco) has expanded its presence on the NEO Exchange with the launch of a new exchange traded fund (ETF).

Invesco received final approval from NEO and Canadian securities regulators to launch the PowerShares 1-10 Year Laddered Investment Grade Corporate Bond Index ETF. The new fund, represented by the ticker PIB, began trading on 12 September, 2017.
“This new ETF is designed to provide investors with low-risk growth through exposure to primarily Canadian investment-grade corporate bonds,” says Christopher Doll, Vice President, Product and Business Strategy, PowerShares Canada. “We are pleased to be adding another NEO-listed product to our lineup as we continue to implement our multi-venue listing strategy that ultimately provides greater efficiency and costs savings for our clients.”
“Invesco has proven to be an exceptional partner from our inception because of their belief in competition, and dedication to a better Canadian capital market landscape for all investors,” says Jos Schmitt, President and Chief Executive Officer, NEO Exchange. “We are delighted to see Invesco renew its commitment to NEO today, not on the strength of our relationship, but on the strength of our service and ability to promote liquidity for, and access to, investment products. Invesco’s decision to return to us speaks to the growing momentum we have been building in both ETF listings and ETF volume traded.”
This marks the third time Invesco has selected NEO as its listing exchange to launch new funds, bringing the number of PowerShares ETFs listed on NEO to four. After only two years of full operations, NEO is home to 25 funds, comprised of 42 different symbols from six ETF providers. In August, NEO facilitated close to 20% of all ETF volume traded in Canada, with about half in continuous trading.
“Our ETF track record, achieved over such a short period of time, has established us as a leading marketplace in Canada’s ETF ecosystem and demonstrates that by doing what is right for investors and companies seeking to raise capital is a winning proposition,” says Jos Schmitt.

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